UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC 20549

                                  FORM 10QSB

[X]  Quarterly Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934

     FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2000

     OR

[ ]  Transition Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934
     For the transition period from           to

                         COMMISSION FILE NUMBER 000-30065

                            IRON MASK MINING COMPANY
             (Exact name of registrant as specified in its charter)

           IDAHO                                           82-0230842
(State of other jurisdiction                     (IRS Employer Identification
of incorporation or organization)                                 Number)


                                656 Cedar Street
                             Ponderay, Idaho   83852
                     (Address of principal executive offices)

                                (208) 263-3834
               (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12  months (or  for such shorter  period that the  Registrant was
required  to file  such  reports), and  (2) has  been  subject  to  such  filing
requirements for the past 90 days.              Yes [ x ] No [   ]

Indicate  the number of  shares outstanding  of each of the issuer's  classes of
common stock, as of December 31, 2000: 22,187,316






<PAGE>
                             IRON MASK MINING  COMPANY
                                     FORM  10-QSB
                FOR  THE  QUARTERLY  PERIOD  ENDED  DECEMBER 31,  2000

                         PART I. - FINANCIAL INFORMATION

Item  1  Financial  Information

                            Iron Mask Mining Company
                          Reviewed Financial Statements
                       For the Three and Six Months Ended
                                December 31, 2000

Board  of  Directors
Iron  Mask  Mining  Company
PO  Box  1713
Sandpoint,  Idaho  83864

We  have reviewed  the accompanying Balance Sheet of Iron Mask Mining Company as
of  December  31,  2000  and  the  related  Statement  of Income and Accumulated
Deficit,  Statement  of  Changes  in  Stockholders Equity, and Statement of Cash
Flows  for the three and six months then ended, in accordance with Statements on
Standards for Accounting and Review Services issued by the American Institute of
Certified  Public  Accountants.  All  information  included  in  these financial
statements  is the representation of the management of Iron mask Mining Company.

A  review  consists principally of inquiries of company personnel and analytical
procedures  applied  to  the  financial data.  It is substantially less in scope
than  an  audit  in  accordance  with generally accepted auditing standards, the
objective  of  which  is  the  expression  of an opinion regarding the financial
statements  taken  as  a whole.  Accordingly, we do not express such an opinion.

Based  on our review, we are not aware of any material modifications that should
be  made  to  the  accompanying  financial statements in order for them to be in
conformity  with  generally  accepted  accounting  principles.


/s/ Scott  Beggs  &  Company,  Inc


Scott  Beggs  &  Company,  Inc
Kellogg,  Idaho  83837

January  25,  2001


















<PAGE>
                             Iron Mask Mining Company
                         A Development Stage Corporation
                                  Balance Sheet
                           December 31, 2000 and 1999

<TABLE>
                                            2000             1999
                                       --------------   ------------
<S>                                    <C>              <C>
ASSETS
Current  Assets
  Cash in Bank                                   244            426
  Prepaid Insurance                                             750
                                       --------------   ------------

     Total Current Assets                        244          1,176
Property  and  Equipment
  Land                                                       87,380
  Buildings                                                   1,032
  Equipment                                                  46,176
  Accumulated Depreciation                         0        (47,208)
                                       --------------   ------------
     Net Property and Equipment                    0         87,380
                                       --------------   ------------
    Total Assets                                 244         88,556
                                       ==============   ============

LIABILITIES  AND  EQUITY
Current  Liabilities
  Accounts Payable                            24,376          1,827
  Interest Payable                             1,586
  Notes Payable - Due within One Year         15,375         33,355
                                       --------------   ------------
     Total Current Liabilities                41,337         35,182
Long  Term  Liabilities
  Notes Payable - Due in more than
     One Year                                  2,405              0
                                       --------------   ------------
     Total Long Term Liabilities               2,405              0
                                       --------------   ------------
     Total Liabilities                        43,742         35,182
Equity
  Common Stock, par value $ .005,
    authorized  100,000,000  shares,
    issued and outstanding 22,187,316        830,366        799,366
  Additional Paid in Capital                 215,936        215,936
  Deficit accumulated during
     Development Stage                    (1,089,800)      (961,928)
                                       --------------   ------------

     Total Equity (Deficit)                  (43,498)       (53,374)
                                       --------------   ------------
     Total Liabilities and Equity                244         88,556
                                       ==============   ============
</TABLE>




See the accompanying accountant's report and notes, which are integral parts
of these financial statements.

<PAGE>
                             Iron Mask Mining Company
                         A Development Stage Corporation
                   Statement of Income and Accumulated Deficit
        For the Three and  Six Months Ended - December 31, 2000 and 1999

<TABLE>
                             Qtr Ended    Year to Date   Qtr Ended    Year to Date
                              12/31/00      12/31/00      12/31/99      12/31/99
                            ------------  ------------  ------------  ------------
<S>                         <C>           <C>           <C>           <C>
INCOME
  Interest Income                     4            21            15            16
  All Other Income                                               25            25
                            ------------  ------------  ------------  ------------
     Total Income                     4            21            40            41

EXPENSES
  Professional Fees               4,031        11,481          5,000     5,000
  Payroll Taxes and Insurance       100          966
  Interest and Bank Fees            820        1,232              19        36
  Taxes and Licenses                              30              60        60
  Other                           5,593       10,213
  Assessments                                 20,000
                            ------------  ------------  ------------  ------------
     Total Expenses              10,544        43,922         5,079         5,096
                            ------------  ------------  ------------  ------------

Net Loss                        (10,540)      (43,901)       (5,039)       (5,055)

Accumulated Deficit - Start
   of Period                 (1,079,260)   (1,045,899)     (956,889)     (956,873)
                            ------------  ------------  ------------  ------------
Accumulated Deficit - End
   of Period                 (1,089,800)   (1,089,800)     (961,928)     (961,928)
                            ============  ============  ============  ============

</TABLE>






















See accompanying accountant's report and notes, which are integral parts of
these financial statements

<PAGE>
                             Iron Mask Mining Company
                         A Development Stage Corporation
                   Statement of Changes in Stockholders Equity
         For the Three and Six Months Ended - December 31, 2000 and 1999

<TABLE>
                             Qtr Ended    Year to Date   Qtr Ended    Year to Date
                              12/31/00      12/31/00      12/31/99      12/31/99
                            ------------  ------------  ------------  ------------
<S>                         <C>           <C>           <C>           <C>
COMMON  STOCK
  Start of Period               830,366       830,366       799,366       799,366
                            ------------  ------------  ------------  ------------

  End of Period                 830,366       830,366       799,366       799,366

ADDITIONAL PAID IN CAPITAL
  Start of Period               215,936       215,936       215,936       215,936
                            ------------  ------------  ------------  ------------

   End of Period                215,936       215,936       215,936       215,936

ACCUMULATED  DEFICIT
  Start of Period            (1,079,260)   (1,045,899)     (956,889)     (956,873)
  Current Period Profit
   (Loss)                       (10,540)      (43,901)       (5,039)       (5,055)
                            ------------  ------------  ------------  ------------

  End of Period              (1,089,800)   (1,089,800)     (961,928)     (961,928)

TOTAL STOCKHOLDERS EQUITY       (43,498)      (43,498)      (53,374)      (53,374)
                            ============  ============  ============  ============

</TABLE>

























See accompanying accountant's report and notes, which are integral parts of
these financial statements

<PAGE>
                            Iron Mask Mining Company
                         A Development Stage Corporation
                             Statement of Cash Flows
         For the Three and Six Months Ended - December 31, 2000 and 1999

<TABLE>
                             Qtr Ended    Year to Date   Qtr Ended    Year to Date
                              12/31/00      12/31/00      12/31/99      12/31/99
                            ------------  ------------  ------------  ------------
<S>                         <C>           <C>           <C>           <C>

CASH FLOW FROM OPERATING
  ACTIVITIES

  Net Loss                      (10,540)      (43,901)       (5,039)      (5,055)
  Adjustments to
   Reconcile to Net Cash
  (Increase) Decrease
     in Prepaid Insurance                        750
   Increase (Decrease)
     in Payable Accounts          5,042        22,269           408          408
                            ------------  ------------  ------------  ------------
Net Cash (Used) Provided
   by Operating Activities       (5,498)      (20,882)       (4,631)      (4,647)

CASH FLOW FROM FINANCING
  ACTIVITIES
  Loan Proceeds                   5,032        17,780         5,000        5,000
                            ------------  ------------  ------------  ------------
Net Cash (Used) Provided
  by Financing Activities         5,032        17,780         5,000        5,000

Net Increase (Decrease)
  in Cash                          (466)       (3,102)          369          353

Cash - Start of Period              710         3,346            57           73
                            ------------  ------------  ------------  ------------

Cash - End of Period                244           244           426          426
                            ============  ============  ============  ============

</TABLE>

















See accompanying accountant's report and notes, which are integral parts of
these financial statements

<PAGE>
                            Iron Mask Mining Company
                           A Development Stage Company

                        Notes to the Financial Statements
                                December 31, 2000

NOTE  1:     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

Development  Stage  Company  -  General Accounting   In June 1975, the Financial
Accounting  Standards  Board (FASB) issued Statement of Financial Standards No 7
effective  for  fiscal periods beginning after January 1, 1976, for companies in
the  development  stage.  That statement requires that such companies follow the
same  accounting  practices  as  operating companies and, thus, defer only those
costs which an operating company would normally defer and that dollar amounts be
assigned  to  shares  issued  for  noncash  considerations.

Development  Activities  -  The primary business  purpose of  the Company is the
purchase  and  development of mining properties.  The realization of profits and
recovery of development costs are dependent upon increased market values and the
recoverability  of  the  minerals  of  the  Company's  properties.

Cash and Cash Equivalents  - For the purpose of the statement of cash flows, the
Company  considers  all  highly liquid debt instruments with a maturity of three
months  or  less  to  be  cash  equivalents.

Notes  Payable - The  Company  had  various notes payable to individuals.  These
notes  are  to Bob Evans, Gerald Sarff, and Bob and Don Delany in the respective
amounts  of  $  7,506,  $  6,367,  and    $ 3,907.  These loans and advances are
generally  due and payable within one year, thus, they are classified as current
Notes  Payable.  These  individuals  are  related  parties  to  Iron Mask Mining
Company.

Income Taxes  -  The  Company  files its  corporate  income  tax  returns  as  a
development  stage company.  Accordingly, all income and expense items are being
capitalized  as  development  costs.

NOTE  2:     CUMULATIVE  DATA

Cumulative  data  has  been  recorded on the Statement of Income and Accumulated
Deficit  and  the  Statement  of Cash Flows.  The cumulative data is from May 1,
1957,  the date of organization, to December 31, 2000.  Also included in Deficit
accumulated  is  the  amount incurred by Yellow Pine Resources Inc.  See Notes 3
and  4  for  more  information.

NOTE  3:  ACQUISITION  AGREEMENT  YELLOW  PINE  RESOURCES  INC

The  Company  entered an agreement with Yellow Pine Resources Inc to acquire all
of  the  outstanding  shares  of  Yellow Pine Resources Inc in a stock for stock
exchange.  After  concluding the transaction, Iron Mask Mining Company owns 100%
of  the  outstanding  stock  of  Yellow  Pine Resources Inc.    Iron Mask Mining
Company  issued  6,000,000  shares  to the shareholders of record of Yellow Pine
Resources  Inc.  Iron  Mask  received $ 341,796 of capitalized development costs
for  income  tax  purposes  and the applicable mining leases and other assets of
Yellow  Pine Resources. $ 300,000 has been included as Common stock and $ 41,796
as  additional  paid  in  capital.

NOTE  4:  CONSOLIDATION  INFORMATION

Included  in  the  deficit  accumulated during development stage activities is $
341,796  incurred  by  Iron Mask Mining Company's wholly owned subsidiary Yellow
Pine  Resources Inc.  See Note 3 for more information concerning the acquisition
of  Yellow  Pine  Resources  Inc.
<PAGE>

                            Iron Mask Mining Company
                           A Development Stage Company

                        Notes to the Financial Statements
                                December 31, 2000

NOTE  5:  LAND  SALE

During  the year ended June 30, 2000, the company sold some land.  This land was
acquired  in  approximately  1957  and the recorded book basis was $ 132,588 for
land,  buildings,  and  equipment.  The  buildings  and equipment had been fully
depreciated over their useful lives, and were either included in the sale or had
been  discarded over the years and not recorded.  The Company currently does not
own  any  real  property,  improvements,  or equipment.  The sales price for the
land,  net  of  selling  expenses  was  $  57,829.  The  loan  from Montana Land
Investments  LLC,  plus  interest,  was  paid  directly  by  the  title company.

NOTE  6:  AMERICAN  DIATOMITE  LLC  AGREEMENT  AND  RELATED  PARTY  ACTIVITY

In May of 1999, Iron Mask Mining Company entered into an agreement with American
Diatomite  LLC.  Under  the  terms  of  this agreement, Iron Mask Mining Company
issued  to  American  Diatomite LLC 6,200,000 shares of restricted common stock,
par  value  $  0.005.  Iron  Mask  Mining  Company received in exchange for this
stock,  the  right  to mine and develop the property currently owned by American
Diatomite  LLC.  There  is  a  provision  for  an option to purchase in 5 years.

Two  of  the  principals  in  American  Diatomite LLC also serve on the board of
directors and are shareholders of Iron Mask Mining Company.  Thus, the agreement
with  American  Diatomite  LLC  is considered a related party transaction.  This
transaction  has  been  recorded  as  a credit to common stock of $ 31,000 and a
Right  to Mine operating expense.  The value of this transaction was recorded at
par  value  for  the  stock.




























<PAGE>
                             IRON MASK MINING  COMPANY
                                     FORM  10-QSB
                FOR  THE  QUARTERLY  PERIOD  ENDED  DECEMBER 31,  2000

Item  2.  Management's Discussion and Analysis or Plan of Operation

The  Company  is  a  mining  company  engaged  in  exploration  and  development
activities.  The Company is pursuing opportunities within the mining industry as
well  as  other  industries.  The  Company  filed  Form  10-SB  General Form for
Registration  of  Securities  with the Security and Exchange Commission on March
22,  2000.  The  Company's  registration  became  effective  on  April 26, 2000.
Pennaluna  and  Company  has  made  formal   application  with   NASD  (National
Association of Security Dealers) to list Iron Mask Mining Company's stock on the
electronic  bulletin  board.   Public  trading  will  begin  when   and  if  the
application  is  approved.  The Company expects its shares will be listed on the
bulletin  board  exchange  in  first  quarter  2001  and intends to begin mining
operations  in  early  summer 2001.  The Company's fiscal year end is June 30th.

OVERVIEW

The  Company  was  formed  on May 16, 1957 and engaged in mining activities from
1957 to 1991.  From 1991 to February 1999 the Company was inactive.  On March 5,
1999,  the Company acquired 100% of the stock of Yellow Pine Resources, Inc., in
exchange for 6,000,000 shares of the Company's common stock.  On May 10th, 2000,
the  Company  entered  into  an  agreement  with  American Diatomite, L.L.C., to
develop,  mine  and  retain profits from 42 unpatented mining claims in exchange
for  6,200,000 shares of iron Mask Mining Company common stock.  The Company has
a  five-year  option  to  purchase  the  42  mining  claims for $ 3,000,000 from
American  Diatomite,  L.L.C.  The $ 3,000,000 purchase option price is exclusive
of  capital  gains  taxes  incurred  by  American  Diatomite,  L.L.C.

     Revenues

The  Company's  revenues  of $ 21 for the six months ended December 31, 2000 was
derived  entirely  from  interest income, compared to total revenues of $ 41, of
which  $ 16 was from interest income and $ 25 was from miscellaneous income, for
the  same  period  in  the  prior  year.

     Expenses

Total  expenses for the six months ended December 31, 2000 and December 31, 1999
were  $  43,922  and  $  5,096 respectively.  In the current quarter significant
costs  were related to the registration and filing requirements of the Company's
common stock.  Professional fees were $ 11,481 and $ 5,000 respectively and were
related  to  the costs of registering the Company's stock and SEC filings.  Bank
fees  and  interest  expense  on  short-term   loans  were  $  1,232   and  zero
respectively.  License  costs were $ 30 and $ 60 for each period.  Payroll taxes
and  insurance costs were $ 966 and zero respectively.  Assessment expense was $
20,000  and  zero  for  each  period.  Other  costs  were  $  10,213  and  $  36
respectively.  Amounts  included  as  other  costs were related to site clean-up
costs,  bonding  costs,  office  expenses and supplies, travel and miscellaneous
expenses.

FINANCIAL  CONDITION

     Liquidity

Cash  decreased   $3,102  during  the  first  two  quarters.  Prepaid  insurance
decreased  $750.  Accounts   payable  increased  $24,026, due to  assessment and
professional  fees  incurred.  Interest payable  decreased $1,757.  The interest
payable  amounts were added to notes payable to related parties.  Long-term debt
increased  $17,779. All long-term debt is  owed  to  related  parties.
<PAGE>
                              IRON MASK MINING  COMPANY
                                     FORM  10-QSB
                FOR  THE  QUARTERLY  PERIOD  ENDED  DECEMBER 31,  2000

     Capital  Requirements

The  Company's  stock  registration, listing, and subsequent offering will allow
the  Company  to  raise  the  capital  needed  to  pursue its long-term goals of
developing  its  gold

                            PART II OTHER INFORMATION

Item 1.  Legal Proceedings.

         None

Item 2.  Changes in Securities.

         None

Item 3.  Defaults upon Senior Securities.

         None

Item 4.  Submission of Matters to a Vote of Security Holders.

         None

Item 5.  Other information.

         None

Item  6.  Exhibits  and  Reports  of  Form  8-K

(a) Exhibits required by Item 601:

(27) Financial Data Schedule, Electronic Filing Only    Attached

(b)  Reports  on  Form  8-K

During the Quarter ended December 31, 2000 the Registrant filed no Form 8-Ks.


                                   SIGNATURES

In  accordance  with  Section  13 or 15(d)  of the  Exchange Act  the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

IRON MASK MINING COMPANY


    /s/
BY: ------------------------------------          DATE:  February  12,  2001
Robert Delaney, President and Director